Having launched one of the most viral crypto presales of 2023, some commonly typed search queries now include ‘should I buy Wall Street Memes coin’, and ‘Is Wall Street Memes a good investment’.
Helping to answer those questions, crypto analyst Satoshi Stacker this week uploaded a video for his 282,000 YouTube subscribers reviewing the new meme coin.
The YouTuber regularly spotlights new altcoins to buy as they ‘can attract hype and there are not large numbers of people holding at a loss waiting to sell into any pumps, as there are with many of the altcoins that have been around for a while.’
Is Wall Street Memes A Good Investment?
Satoshi Stacker did disclose that his video was sponsored by Wall Street Memes, and does always emphasise that all his content is for informational purposes and not financial advice.
However the popular YouTuber has built up a strong reputation for his expertise in the crypto markets, and is known for highlighting legitimate projects that have significant upside potential.
He pointed out ‘several key characteristics that work in the Wall Street Memes coin project’s favor’, including:
Transparency & No Team Token Allocation
Satoshi Stacker compared the new meme coin to a similar project Wall Street Baby (WSB) that it aims to improve upon.
$WSB saw ‘crazy pumps around the beginning of the project’ – of over 35,000% – but later faced issues as ‘large insider wallets dumped their holdings’. That project also claimed to represent the Reddit Wall Street Bets community.
$WSM in contrast makes clear that it only draws inspiration from that Reddit sub, and has no team tokens. A large part of its supply is dedicated to locked liquidity (20%) and community rewards (30%).
Community & Previous Success Launching New NFT Projects
Satoshi Stacker also noted that the Wall Street Memes team have a track record of success launching projects, dating back to 2021 with their gamified NFT collection the Wall St Bulls.
That NFT project sold out on OpenSea in 32 minutes.
‘One of the reasons for that NFT project’s success, that also applies to Wall Street Memes, is the strength and size of the already existing community. Very few projects launch with a strong community that already loves the idea behind it, but that is exactly what Wall Street Memes has.’
The official Twitter handle promoting new meme coin $WSM – @wallstmemes – has over 270,000 followers, and across all of the team’s social media platforms its community numbers over one million traders and crypto enthusiasts.
Even Elon Musk has from time to time interacted with the project’s main account, and the team bring in over 40 million impressions per month.
Literally
— Elon Musk (@elonmusk) March 18, 2023
Crypto Marketing Reach
As well as its own social media, Wall Street Memes has shown a commitment to marketing, also adding to its credibility and the likelihood of being legit.
The project has invested in sponsored promotional coverage on the top crypto media outlets, such as Cointelegraph and BeInCrypto, as well as in Fintech media – including Yahoo Finance.
Another of the largest crypto YouTubers, Joe Parys, also reviewed Wall Street Memes in a sponsored video. Like Satoshi Stacker, Parys is known for carefully researching legit projects to give his attention and endorsement to.
View Parys’ video ‘Is this the next 100x meme coin – honest review of Wall Street Memes’ below.
Long Term Utility
The project also offers staking as an incentive to hold, with over 50% APY, and is running a $50,000 airdrop set to be shared by five holders of $WSM.
Learn how to take part in that airdrop on wallstmemes.com, where $WSM is close to wrapping up its presale.
Summary – Is Wall Street Memes Legit?
By gaining the endorsement of large crypto YouTubers such as Satoshi Stacker, Joe Parys, Michael Wrubel and others – and having been featured on a long list of crypto news sites, Wall Street Memes has put a significant amount of time into earning its legitimacy.
Projects that intend to ‘rugpull’ or scam investors rarely invest as heavily into marketing as Wall Street Memes coin has.
WSM is also currently the top-rated new crypto project on CoinSniper.net, which collates the latest audited, legitimate projects.
As the site notes Solid Proof carried out an audit of the WSM smart contracts, which it passed.
The $WSM presale ends on September 25 at 6pm UTC, with multiple tier-one crypto exchange listings then taking place on September 27.
The team has teased that five of the top fifteen exchanges on CoinMarketCap’s rankings will be listing WSM – if accurate, would signal that Wall Street Memes is legit as the top exchanges vet which coins they list.
Satoshi Stacker notes that could benefit the new meme coin’s growth as ‘not many projects are seeing immediate tier-one listings these days’.